Jio shares rise 21% in debut after India’s record $3.2 billion IPO
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Mukesh Ambani’s Jio Platforms, backed by Meta and Google, gained 21% on its Wednesday market debut after raising $3.2 billion in India’s largest IPO, which attracted more than $77 billion in bids and was oversubscribed 22.19 times by over 13.8 million applicants. Shares opened at ₹1,358 against an IPO price of ₹1,119, valuing Jio at about ₹12.5 trillion ($131.9 billion), making it India’s second-most valuable listed company after parent Reliance Industries.
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